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Adidas to make €1 trainers

091112_adidas.jpg The move from the company more usually associated with expensive footwear and celebrity sponsorship was inspired by Bangladesh’s Nobel prize winner, Muhammad Yunus, the pioneer of micro-loans which help the poor start their own businesses. He told the company, which has been criticised for exploitation in the developing world, that Bangladesh needed “social businesses” which would create jobs in the country. The company has now agreed it will produce shoes in Bangladesh on a non-profit basis, although a spokesman stressed the final price may be higher than the €1 (89p) target. The move marks a change of heart for the company, which has been associated with big money sponsorship deals and luxury brand prices. Image: More…

News selected by Covalence | Country: Bangladesh | Company – Ethical Quote link: Adidas | Source:

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